We have thought of the donation option for the future if we get a new engine.
As an update to everyone…we walked the Volvo lot today (we weren’t the only ones there doing so to avoid the lurking salespeople). We saw several cars of interest, new and used late model. We will go back tomorrow and drive them…and then see what Volvo will really do for us. They claim they will give us any “incentives” Volvo has for new car purchases…so maybe this will help.
Stay tuned!
After 10 years and 126,000 miles there is a chance that luck might run out eventually - if other things go, like the suspension, the driveshaft, etc. you could be looking at a wreck. So essentially you are gambling that you’ll lose $5,000 if the car “goes” in the next 3-4 years, and the odds of that occurring are rising. If that happens, you’d still have to buy a replacement vehicle, but now there won’t be any trade-in value.
If they are willing to apply $5,000 towards a 3-year lease return vehicle, then this may be dealer’s way to indirectly lower your price for the certified pre-owned, without “officially” having done so. Your old car will go to auction, and if it sells “at a loss”, that figure will get lost in a big accounting item.
There are valid arguments either way, but today you are thinking 3-4 years. That is a long time to bridge with a 125,000 miles car. Even your replacement car will be 6 - 7 years old by then, so you would be getting good use out of that. If the replacement holds up well, you might end up pushing the next car out another year or two - because you’d likely be quite content with all the features that come with 2021 Volvos.
Instead of taking out the “lifetime” warranty the replacement car, get the less expensive one that ends at whatever mileage. You could also get the service plan, where your annual service will be covered.
I have a friend who owns several car dealerships. Car sales is one of the remaining blue laws we have. He said he never wants to see it go away because his customers (like @thumper) like to shop on Sundays without salesmen lurking.
He also said he would not sell one additional car if he had to be open on Sundays, and many customers couldn’t complete the transactions anyway because their banks aren’t open.
I’d use the $5,000 and buy a new car. It’s hard to go wrong with new. We always go new and drive the wheels off the car. This way we always know what condition it’s in. Bought a new Toyota Corolla in 2007 when our daughter was a toddler. She’s now driving it and will start college next year.
Yes, they are willing to apply what they give us towards leasing a new car.
We are meeting a well recommended sales person tomorrow morning…will drive a few cars and crunch the numbers. The service manager has reached out to Volvo to get a more firm number than “at least $5000”.
@coolguy40 all of our previous Volvos including this one with the engine issues…have been preowned. The first one we bought for our 16 year old driver. It was 15 years old in 2001 and had 150,000 miles or so on it. We owned it for more than several years for our kids…it went to over 200,000 miles. We donated to charity. The second one was off lease…and was the old s70 and they had restyled it. We got a great deal on that one. It went to 220,000 or so with us and we sold it to friends who drove it for a couple more years. My husband drives a V60 wagon that was a year old when we bought it. So far (knock on wood) that one is doing fine too. It’s a 2016.
And then there is my 2012 S60…with a failed second engine.
I will say…I think Volvo is taking good care of us. Really…the book value on my car isn’t as much as they are offering. And with a bad engine it has no value…at all.
Stay tuned!
I hope you get a car with an engine. That would be great. 
We literally went through this last week - whether to put money in an old car, or replace it.
Picked up a 2021 lease return XC60 after they gave us an unexpected high trade-in value for the old broken down car (different marque), to make the balance quite affordable even with today’s rates (we’ll pay of quickly).
We will drive that 2021 again for another 5 or 6 years, while enjoying all the new features and the new tires.
Volvo gave us 20% off a new s60. Definitely brought that into budget and they had exactly the color combo I wanted. So that is what we are getting!!!
We are happy with the decision.
Congratulations !
Was this the Plan A equivalent discount ?
It was a combo of incentives plus what Volvo finally offered us for purchasing a new car. Really…I think 20% off a new car is decent!!
And I’m happy with the choice
20% off is outstanding. The Plan A type discounts at GM used to be 18%. My best guess is that you received either a fleet discount or a Plan A discount. Again, congratulations !
No. It was just that the incentives (teacher and loyalty) plus what Volvo offered us if we bought a new car added up! Not bad
Congrats!!!
Please give us periodic updates to let us know how you are enjoying it.
I’m happy for you!!!
We won’t be picking it up until probably next week
Has to be better - all the OEMs, given the last few years, have squeezed all discount. Mine has (except for electric).
Any under the hood monies, etc. have been drastically reduced as well…fleets, which used to be 25%-ish are now half of that, etc…and with price increases they’ve really gotten crushed.
I think we did very well!!!
I’d agree - and the fact that you are happy - that’s all that really matters.
Did you do the lease or purchase?
Just for fun, take your new car to CarMax & get a quote.
During the Covid car shortage, many buyers purchased a new vehicle at MSRP (no additional mark-up) and went “across the street” to CarMax and sold it for a few thousand dollars profit. This caused the new car dealers in that area to add surcharges to the MSRP.
Purchase
@thumper, so glad you have a solid plan at a good price! Please keep us posted on how you like your new car—H has been in the market for one (especially a Volvo) for a very long time. He’s had several Volvos and likes the brand AND sedans with trunks.